MANILA, Philippines - A $150-million (P6-billion) Trump Tower Manila will be built by real estate developer Century Properties in Makati City.
Century City Development Corp., a unit of Century Properties, will be developing the luxury residential skyscraper with the brand name and mark under license from American real estate mogul Donald J. Trump.
"In discussing this project with (daughter) Ivanka, we felt that Manila would be a strong market for the Trump brand. It is one of Asia's most important cities and Manila's sophisticated clientele really appreciates luxury... We were confident that (Century Properties) would be a terrific group to develop an outstanding luxury residential building and brand it with our name," Trump told The Star.
Trump, who signed the licensing deal in New York with Century Properties chairman Jose E.B. Antonio, said Trump Tower Manila will be 'spectacular and there will be nothing like it in the Philippines or beyond.'
Trump is one of the most high-profile businessmen in the US, thanks to his real estate business, extravagant lifestyle, the hit reality show "The Apprentice" and an aborted campaign to run for President.
Century Properties, which recently brought American celebrity and socialite Paris Hilton to Manila to promote and design The Azure Beach Club, is quite confident about its new Trump-branded residential project.
"There is never a more opportune time than today to launch Trump Tower Manila, which is perhaps the country's most powerful symbol of progress and readiness to compete on the world stage. This project celebrates achievement, power, modern grandeur, and an unparalleled kind of lifestyle that is on a class of its own," said Century Properties managing director Robbie R. Antonio.
Trump Tower Manila will have over 220 units, and at 250 meters will be one of the Philippines' tallest buildings. It will be built at the 3.4-hectare Century City, the flagship mixed-use development of Century Properties in Kalayaan Avenue, Makati City.
The licensing deal came about as a result of the young Antonio's meetings with Trump's daughter Ivanka, who is vice-president for development and acquisitions at The Trump Organization.
"I met Ivanka Trump in New York several years ago," said the young Antonio. "A friendship developed with her and the rest of the family. In our meetings, we discussed a licensing deal and consequently, Trump Tower Manila was conceived."
The Trump Tower Manila showroom is scheduled to open in early 2012 but the company said unit reservations have started this month.
Century Properties said there will be a limited number of units, which will be priced "competitively". Suites will be approximately 57 sqm (613 square feet) and 1 to 4-bedrooms and penthouses at approximately 425 sqm (4,574 square feet).
"We expect that the market will quickly seize each one of these over 220 units-a very rare and limited number for those on the lookout for world-class property the world over," Antonio said.
The Trump Organization has over 70 properties, owned or branded, built or under construction worldwide, ranging from residential condominiums, golf courses and mixed-use properties.
"One of our company's primary objectives is bringing our brand and the luxury associated with the Trump name into the international arena. The Philippines offers incredible opportunity given the tremendous wealth in the region. This project will set the new standard in the Philippines and beyond," said executive vice president of development and acquisitions Eric Trump. - with a report from The Philippine Star